Snowman Logistics lost 4.03% to Rs 53.65 at 11:51 IST on BSE after the company posted a net loss of Rs 3.60 crore in Q2 September 2017, compared with net loss of Rs 8.30 crore in Q2 September 2016.
The result was announced after market hours yesterday, 8 November 2017.Meanwhile, the S&P BSE Sensex was up 59.86 points or 0.18% at 33,278.67.
On the BSE, 1.14 lakh shares were traded on the counter so far against the average daily volumes of 2.15 lakh shares in the past two weeks. The stock had hit a high of Rs 55.40 and a low of Rs 53.50 so far during the day.
Snowman Logistics' sales declined 5.44% to Rs 45 crore in Q2 September 2017 over Q2 September 2016.
Sunil Nair, CEO of Snowman Logistics, stated that the company has been able to cut down losses considerably year on year in Q2 September 2017 primarily due to its vehement focus on cost optimization. However, the losses continue on account of GST implementation which slowed down the goods movement in the country for major part of Q2, Nair said.
Snowman Logistics is an integrated temperature controlled logistics services provider with an ability to service customers on a pan India basis.
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